, the overseas applications of you as two activities either a director in significant effect in the u.s. commerce for the potential for evasion. we support the goals of title vii which provide great transparency and increased oversight of the swaps market. there is growing concern of the cftc and divergence and the sec regarding the process and timing in the house slots and security base wipes are a furry and declines. as the committee is aware, the industry is facing quickly approaching the highest deadline. without the benefit of final payments with the international scope of these rules. the lack of clarity related to the rules cross-border application manifests itself in particular with respect to three aspects. the cftc sdc to more pressing concerns with the requirements. the first is to has to register as a swap deal or. given the nature register, firms of which make decisions if i look so as to which entities to register with the cftc. making these decisions without being fully informed to the rules that apply in literal take to comply and position untenable love love and predict ability.